US group offers better idea for collecting taxes abroad

usa_flag_crop1

GENEVA, SWITZERLAND – There’s a better way for the IRS, the US tax office, to collect money, a group of US citizens says, noting that it is “alarmed and vexed” at costly and cumbersome Fatca legislation the US is enacting. Its suggestions were unveiled Saturday in London. American Citizens Abroad (ACA), based in Geneva but […]

Julius Baer’s Merrill Lynch client assets acquisition laid out

Capture

800 jobs could go as part of rationalizing costs ZURICH, SWITZERLAND – Bank Julius Baer outlined for investors in London Tuesday 9 October details of its complex acquisition in August of Bank of America Merrill Lynch’s wealth management business outside Japan and the US. The deal was said by the bank in August to be […]

UBS whistleblower Birkenfeld gets $104 million reward from US gov’t

birkenfeld2

ZURICH, SWITZERLAND – Bradley Birkenfeld, released on good behaviour from a US prison 1 August (the Swiss national holiday) after 2.5 years of his 40-month sentence for failing to disclose his part in tax fraud (conspiracy to defraud) crimes, has been awarded $104 million for blowing the whistle on US clients of bank UBS. Birkenfeld’s […]

Bern sets strict guidelines for 5 banks on handing staff data to US

BERN, SWITZERLAND – Five banks targeted for investigation by the US Justice Department on suspicion of helping wealthy American citizens in the US defraud tax authorities will now have to follow strict guidelines before handing over data on their own employees. The Swiss federal data protection office met with the banks concerned 4 September to […]

US passport holders see tax threat lifted

GENEVA, SWITZERLAND – A threatened change to US law that could have seen Americans who owe more than $50,000 in back taxes lose their passports was dropped earlier in July. The proposed legislation, an amendment to a highway bill, had prompted strong reactions from citizens abroad groups, given that it would not have required proof, […]

Americans meet in Lausanne as tax filing day raises new questions

usa_flag_crop

GENEVA, SWITZERLAND – This is the day when Americans back home are scrambling to get their tax forms to the IRS, but outside the US the difficulty of remaining tax compliant is leading a growing number of citizens to hand in their passports: on average, 7 Americans a day took the oath to stop being […]

Americans in Switzerland Town Hall Meeting

Meet US Ambassador Donald Beyer, the Embassy staff and US Consular staff and discuss the concerns of Americans living overseas. The fourth of five Town Hall Meetings.

If you read what the NY Times says about Swiss banks, take time to read what the Swiss say (update)

GENEVA, SWITZERLAND – This is an appeal to intelligent readers, and I know there are many out there, to at least reflect on the other side of the story if you’ve read the New York Times editorial published Friday 10 February on US pressure on Swiss banks. It’s a remarkably trite piece of writing, with […]

Americans’ Town Hall meeting

“Americans in Switzerland Working Group” is a new partnership initiative launched jointly by the US Embassy in Switzerland and leaders of American clubs and political organizations in Switzerland, together with other scholars, entrepreneurs and members of the private sector overseas American community. U.S. Ambassador Donald Beyer and consulate, embassy staff taking part

FBAR assumptions add to media muddle over Hildebrand story

GENEVA, SWITZERLAND – Two new wrinkles appeared Monday 23 January in Swiss media stories surrounding the resignation of Swiss National Bank Chairman Philipp Hildebrand. French-speaking Switzerland’s largest circulation newspaper Le Matin Dimanche yesterday picked up on vague suggestions that have been appearing in German-language media since early January that his wife Kashya, who is American, […]